Source: Canaccord Genuity and IDC
Posted on 09/21/2010 5:44:34 PM PDT by Swordmaker
Cupertino is raking in the cash as its competitors struggle to post any profit at all
Canaccord Genuity initiated coverage of Apple (AAPL) Tuesday with a "buy" rating and a price target of $356 per share.
In the long, laudatory accompanying note by T. Michael Walkley, their new Apple specialist, the two paragraphs that jumped out at us were the ones that talked about the company's ability not just to innovate, but to turn those innovations into cash.
For example, he writes, Apple sold 17 million mobile handsets in the first half of 2010, compared with 400 million handsets sold by Nokia (NOK), Samsung and LG. Yet it pulled in 39% of the industry's profit during that period, more than the 32% earned by the world's three largest handset makers combined.
To get a sense of the enormity of this disparity you really have to see it in pie chart form (an earlier version of which failed to include "Others.") Meanwhile, to give you a feel for how hot Walkley is for Apple, we've pasted the text of the two paragraphs that caught our eye below the fold.
. . .
In fact, Nokia, Samsung and LG combined sold roughly 400M mobile handsets worldwide in the first half of 2010 with a combined value share of 32% of handset industry profits, while Apple sold roughly 17M units over the same time period and captured an estimated 39% of industry profits, or greater than the top three global handset OEMs combined. Apple leads the industry in every metric except for unit share...
(Excerpt) Read more at tech.fortune.cnn.com ...
Will not happen until Verizon gets their LTE network up and running. I don’t see Apple making a special CDMA version for VZ, not after Verizon’s original “screw you” reception of the iPhone, their continued sniping, and sporadic attempts to FUD-out the iPhone.
Steve has a very long memory.
Lol, I haven’t listened to that troll Dworak in years, I came up with the same silly idea on my own ;-) I agree that there’s no upside or even a sideways-side for Apple to stop making hardware, only that they probably *could*, provided they kept the business model intact otherwise.
You said it better than I did with my reference to “use case”. They create a user experience that their customers prefer and are willing to pay for, above all other alternatives. That is, as they say, “the secret sauce”. Thanks.
Minor correction: The SMS plans are $5 for 200 messages/month, $15 for 1500, $20 for unlimited, and $30 for unlimited on a family plan.
A couple of additional notes on the data plans: If you go over the 2GB, instead of overage charges, you can start a new data billing cycle — so if you use 3GB a month, you’re paying $25 every 20 days (on average). The new data plan is required for tethering, so you have to give up the grandfathered unlimited plan to get that.
Thanks for the correction... I appreciate it.
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